NIFTY Intraday Trade Setup For 13 Oct 2022

NIFTY Intraday Trade Setup For 13 Oct 2022

Buy-Above 17145
Sl-17095
T-17213 17280 17350

Sell-Below 17035
Sl-17085
T-16950 16825 16750

NIFTY has closed on a positive sentiment today with 0.82% gain. Today closing is near day high and today's sentiment will continue above today's high. An inside candle has been formed in daily charts. Above mother candle's high (17265) and low (16950) we can expect a directional move. Index is stuck between 16750 and 17430 in hourly TF. Today sell was triggered from 17105 and it gave 65 points which was 1:1.

Coming to tomorrow's trade setup, if index opens flat and a 5/15 Min candle closes above 17145 then we will long for the target of 17213,17280 and 17350.

For selling we need a 5/15 Min candle close below 17035. Target will be 16950. Below 16950 we will head towards 16750.

In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.